Hungary posts trade surplus of 956 milion EUR in March

Hungary posted a trade surplus of 956 million EUR in March, unchanged from the same period last year, the Central Statistical Office (KSH) has announced.

Exports rose by an annual 18.4 percent to 9.431 billion EUR while imports were up 21 percent at 8.475 billion EUR.

According to MTI, 80 percent of exports and 74 percent of imports were traded with other European Union member states.

Péter Szijjártó, minister for Foreign Affairs and Trade, said after the data release that on the basis of the first quarter figures, following the export records last year and the year before that, the expansion of Hungarian exports has not let up. The data is exceptionally strong and outperformed expectations, he added.

Large-scale export-oriented investments announced in 2015 and 2016 are now reaching full production capacity, and a natural consequence of this is a big rise in the growth of Hungarian exports, the minister said.